New Guinea Gold Corporation

New Guinea Gold Corporation

October 25, 2010 09:18 ET

New Guinea Gold Reports Additional Drill Results From Coppermoly Nakru-2 Copper Intersection-34.2m at 1.07% Copper and 0.23 g/t Gold, Open at Depth

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2010) - New Guinea Gold Corporation's (TSX VENTURE:NGG)(FRANKFURT:NG8) associate company Coppermoly Ltd announced on October 25, 2010, that J/V partner Barrick (PNG Exploration) Ltd, (Barrick), in its first diamond drill hole at Nakru-2, had intersected 34.2m at 1.07% copper and 0.23g/t gold between 141m and 175.2m downhole. Assays below 175.2m are pending.

Bob McNeil CEO and Chairman commented: "This is an excellent result for the first hole drilled by Barrick at the Nakru -2 property, particularly as the last 3.2m assayed so far in the hole contained 2.24% copper. Barrick is now drilling ahead with two drills at the Nakru-1 project. Nakru-1 and Nakru-2 are approximately 700m apart."

New Guinea Gold has a 15% interest in Coppermoly (20,973,684 shares). Current market value is CAD$3.49 million.

The information in this release was prepared under the direction of Peter Swiriduik a Member of the Australasian Institute of Geoscientists, Director of Coppermoly Ltd, and a "qualified person" as defined by National Instrument ("NI") 43-101. Mr Swiriduik has read and approves the information contained herein.

For further information on this release or on other NGG projects, contact Forbes West toll free at (888) 6555532, email,, or access our website –



Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of NGG, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Coppermoly's Release is below:


The first drill hole by Barrick (PNG) Exploration Ltd at the Nakru-2 prospect, BWNBDD0003, has intersected 34.2 metres grading 1.07% copper and 0.23 g/t gold from 141 metres to 175.2 metres depth and 3.2 metres grading 2.24% copper from 172 metres to 175.2 metres.

Assays results from 175.2 metres depth are pending.

The hole was completed to a depth of 640.2 metres within part of the geophysical chargeability anomaly at the Nakru-2 prospect (Refer to Figure 1).

The Nakru-2 and Nakru-1 geophysical anomalies are located approximately 700 metres apart.

The mineralised zone is within strongly silicified rhyolite breccias with irregular quartz veining and chalcopyrite and pyrite mineralisation.

To view "Figure 1", please visit the following link:

On behalf of the board,


For further information please contact Peter Swiridiuk or Maurice Gannon on (07) 5592 1001 or visit

The information in this report that relates to Exploration Results and is based on information compiled by Peter Swiridiuk, who is a Member of the Australian Institute of Geoscientists. Peter Swiridiuk is a consultant to Coppermoly Ltd and employed by Aimex Geophysics. Peter Swiridiuk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Peter Swiridiuk consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.


  • All stated intersections are weighted assay averages ([Sum of each total interval x grade] / Total length of intersection).
  • Drillhole samples from drillholes were transported to the camp site then to the town of Kimbe where they were logged, orientated and sampled between 1m and 2m intervals from core split by saw. The split samples are then freighted to Intertek in Lae (PNG) for sample preparation. Samples are dried to 106 degrees C and crushed to < 2 mm. Samples greater than 2kg are rifle split down to 1.5kg and pulverised to 75 microns. The final 300g sized pulp samples are then sent to Intertek laboratories in Jakarta for geochemical analysis. Intertek analyse for gold using a 50g Fire Assay with Atomic Absorption Spectroscopy finish. Other elements are assayed with ICPAES Finish. Copper values greater than 0.5% are re-assayed. Intertek laboratories have an ISO 17025 accreditation. Unused half core is stored in sheltered premises in the town of Kimbe.
  • Quality control and quality assurance checks on sampling and assaying quality are satisfactory.
  • BWNBDD (Barrick West New Britain Diamond Drillhole) Series Drill Core is PQ, HQ and NQ in size with core recovery predominantly greater than 90%.
  • Map co-ordinates are given in UTM Zone 56, AGD66 Datum.
  • Mineralised intersections are quoted as down hole widths.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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